Magnachip Semiconductor (NYSE:MX) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Magnachip Semiconductor Corp. (NYSE:MX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.71 and traded as high as $4.78. Magnachip Semiconductor shares last traded at $4.6790, with a volume of 932,145 shares.

Analyst Ratings Changes

Several brokerages have recently commented on MX. Wall Street Zen upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Magnachip Semiconductor Stock Down 4.7%

The stock has a market cap of $170.50 million, a P/E ratio of -6.68 and a beta of 1.51. The company has a quick ratio of 1.91, a current ratio of 2.37 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $3.71.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%. The firm had revenue of $46.21 million for the quarter, compared to analysts’ expectations of $46.00 million.

Institutional Investors Weigh In On Magnachip Semiconductor

Several institutional investors have recently added to or reduced their stakes in MX. American Century Companies Inc. raised its position in Magnachip Semiconductor by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 3,451 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Magnachip Semiconductor by 1.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock worth $988,000 after buying an additional 5,764 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Magnachip Semiconductor by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock worth $3,224,000 after buying an additional 6,519 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of Magnachip Semiconductor by 15.4% in the 2nd quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock worth $237,000 after buying an additional 7,941 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Magnachip Semiconductor by 57.0% during the fourth quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 8,863 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.